33 Holdings LLC has announced an agreement to acquire interest in Beers Housing Inc., a general contractor and service provider in mortgage field services, maintenance, rehab, construction, and development in the southeast U.S.
"Joining 33 Holdings LLC is an incremental progression in our quest to build a world class mortgage field services and construction service business," said Chad Beers, Founder and CEO of Beers Housing. "As part of 33 Holdings LLC, we will be able to serve 33's existing portfolio, as well as attract new industry-wide clients. This is truly an exciting relationship for our customers, vendors and employees and will help position our business for strong growth in the future.”
Under the terms of the agreement, Beers Housing will operate under the Beers Construction Partners (BCP) name and under the current leadership. In addition, Heather Beers, Managing Partner of Beers Housing, will take on the role of COO at 33 Holdings LLC & Beers Housing, helping with the integration of the two companies, while ensuring value to Investors and clients over the next few months. Both Chad Beers and Heather Beers will join Corey Oldknow and Sanjay Raghavaraju as Principals of 33 Holdings.
"This investment in Beers Housing Inc. presents a great opportunity for 33 Holdings LLC to add a leading mortgage field services and construction services business to our platform," said Raghavaraju, Founder and CEO of 33 Holdings LLC.
Oldknow added, “With this merger, it will create a fully functional private equity real estate company that will create higher returns and faster delivery of real estate projects to our clients.”
Heather Beers noted, “Our respective cultures, goals and investment philosophies are very much aligned. Beers Construction Partners (BCP) will remain a leading Mortgage Field Services & Construction Services firm, now benefiting from the support of 33's significant financial and operational resources. The partnership with 33 ensures that BCP's principals will remain majority-owners of the firm. With this integration, we see a growth opportunity given the seismic shifts in the real estate market, which our partners and staff will thrive, enabling us to better serve our investors and impact the communities we operate in."